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Technology Stocks : Seagate Technology

STX 255.88

-4.6%

Oct 31 5:00 PM EST

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From: Sam	6/27/2013 1:58:56 PM
	of 7841

from SA: 1:46 PM More on Longbow's upgrades of Seagate ( STX +5%) and Western Digital ( WDC +3.9%): Analyst Joseph Wittine thinks hard drive shipment volumes bottomed in 1H, believes pricing has been "relatively stable," and sees higher-margin enterprise (cloud-driven) and company-branded drive sales offsetting PC weakness. He adds "non-PC HDD sales are now eclipsing PC HDD sales for WD and Seagate," and considers shares undervalued based on respective forward free cash flow forecasts of $2.1B and $2B. Also: In spite of the popularity of flash memory in cloud deployments, Wittine estimates ~75% of cloud storage will still be HDD-based. ( Deutsche's upgrades) ( Jim Chanos) Comment!

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